Nightwish

GBPCHF 2 GREAT OPPORTUNITIES

FX:GBPCHF   British Pound / Swiss Franc
17 0 2
The last time I was looking for the setup in any of CHF crosses was in January, before SNB decision. The setup from that period is still on my chart. The reason I looked for it today is great potential trade both ways. I do not favor any, I will take the one that works.

The price is in the falling wedge on daily TF and on Friday it retraced 61.8 Fib of the bearish engulfing weekly candle which is perfect to short. However, there is a demand zone marked by 2 38.2 Fib levels as Fib confluence. Therefore, I expect that will visit demand once more to confirm it and move upside again with solid possibility of the wedge breakout.

Bearish scenario is based on ABCD correction which targets 61.8 Fib of the leg up after SNB. This setup will be valid if demand does not hold.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out